First Time Buyers: Government Assistance

(asked on 3rd December 2020) - View Source

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Housing, Communities and Local Government, what steps the Government is taking to support first-time buyers to buy their own home.


Answered by
Christopher Pincher Portrait
Christopher Pincher
Minister of State (Department for Levelling Up, Housing and Communities)
This question was answered on 11th December 2020

First Homes, our new home ownership scheme, will be prioritised for first-time buyers and will allow them to buy a new home with a discount of at least 30 per cent under market value. In some areas, the discounts could be as high as 50 per cent. This will significantly reduce both deposit and mortgage requirements and open up the dream of home ownership to even more people.

Our new Help to Buy Equity Loan scheme from April 2021 to March 2023 will be targeted at helping first-time buyers to get a foot on the property ladder.

As set out in the Conservative manifesto of December 2019, the Government will encourage a market in long-term fixed rate mortgages with low deposits to promote home ownership. We stand ready to work with the sector to explore the possible options to bring these products to market.

This content was generated for your convenience by Parallel Parliament and does not form part of the official record.
Recent Documents related to First Time Buyers: Government Assistance

1. Starter Homes for First-Time Buyers (England)
18/05/2018 - Parliamentary Research

Found: Number 07643, 18 May 2018 Starter Homes for First-Time Buyers (England) By Hannah Cromarty Contents: 1

2. More than 400,000 first time buyers step onto the housing ladder with Help to Buy
30/11/2018 - HM Treasury
- View source

Found: More than 400,000 first time buyers step onto the housing ladder with Help to Buy - GOV.UK

3. First Homes
07/02/2020 - Department for Levelling Up, Housing & Communities
- View source

Found: First Homes Consultation February 2020 © Crown copyright, 2020 Copyright in the

4. New national model for shared ownership
28/08/2019 - Department for Levelling Up, Housing & Communities
- View source

Found: 2019 Ministry of Housing, Communities and Local Government Making home ownership affordable

5. Report - Investigation into Starter Homes
05/11/2019 - National Audit Office

Found: and Auditor General Ministry of Housing, CommunitiesLocal˜Government Investigation into Starter˜Homes

Latest Documents
Recent Speeches related to First Time Buyers: Government Assistance

1. Oral Answers to Questions
22/02/2021 - Commons Chamber

1: to the pandemic has seen billions of pounds of support flowing to our high streets through business grants - Speech Link
2: need a mixed economy, ensuring that there are housing, leisure, shops and restaurants in town and city - Speech Link
3: that burden others have not. What more can the Government do to encourage landlords to adjust rents where - Speech Link

2. Oral Answers to Questions
25/10/2021 - Commons Chamber

1: Department. We have questions for the Secretary of State for Levelling Up, Housing and Communications—[Interruption - Speech Link
2: simply nowhere to build the wildly unrealistic 2014 housing numbers without decimating any remaining green - Speech Link
3: the communities she represents poses particular challenges when it comes not just to meeting local housing - Speech Link

3. Oral Answers to Questions
05/11/2018 - Commons Chamber

1: leasehold practices have no place in a modern housing market, and neither do excessive ground rents that - Speech Link
2: of Sir Jeremy Heywood.Will the Secretary of State explain how the steps he has outlined will help my constituent - Speech Link
3: practices involved, in order to ensure that we are taking action on a number of fronts in response to the - Speech Link

4. Oral Answers to Questions
19/04/2021 - Commons Chamber

1: they feel hopeless and invisible. Does the Secretary of State agree that no leaseholder should have to - Speech Link
2: this generous package of support where otherwise there would be no support. It is also clear that developers - Speech Link
3: combustible insulation materials despite a proposed Government ban on them? That is 51 out of 66 residential - Speech Link

5. Oral Answers to Questions
04/03/2019 - Commons Chamber

1: in the level of central Government funding for local authorities on the adequacy of services provided - Speech Link
2: resources will be key to helping local authorities to deliver local services, support vulnerable residents and - Speech Link
3: but clearly we will keep in contact with the Local Government Association and others in respect of councils’ - Speech Link

Latest Speeches
Recent Questions related to First Time Buyers: Government Assistance
1. First Time Buyers
asked by: Steve Baker
14/07/2021
... what assessment he has made of the impact of the price cap of First Homes on the (a) variety and (b) local suitability of homes produced for the scheme under Section 106 obligations.

2. First Time Buyers
asked by: Steve Baker
14/07/2021
... what additional financial support the Government plans to provide to property developers to support the development of First Homes.

3. First Time Buyers
asked by: Steve Baker
14/07/2021
... including the receipts for sale of First Homes.

4. First Time Buyers
asked by: Darren Jones
23/03/2021
... what progress he has made on the First Homes scheme and if he will make a statement.

5. First Time Buyers
asked by: Gary Streeter
14/06/2021
... whether the 30 per cent discount of the First Homes policy is intended to replace the requirement for a deposit from the purchaser or whether a deposit is still required.

Latest Questions